Understand the Objective of Forecasting

The objective of every forecast is to support decsions that are based on the forecast, so an important first step is to clearly identify these decisions. Examples of such decisions include how much of a particular product to make, how much to inventory, and how much to order. All parties affected by a supply chain decision should be aware of the link between the decision and the forecast. Failure to make these decisions jointly may result to either too much or too little product in various stages of the supply chain.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

2 Comments (+add yours?)

  1. Like it
    Aug 05, 2011 @ 06:41:57

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  2. Am so happy for you thax
    Aug 30, 2011 @ 09:31:39

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